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<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Nature
of Business</i> - Palatin Technologies, Inc. (“Palatin” or the “Company”) is a specialized biopharmaceutical
company developing first-in-class medicines based on molecules that modulate the activity of the melanocortin and natriuretic
peptide receptor systems. The Company’s product candidates are targeted, receptor-specific therapeutics for the treatment
of diseases with significant unmet medical need and commercial potential.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Melanocortin
Receptor System.</i> The melanocortin receptor (“MCr”) system is hormone driven, with effects on food intake, metabolism,
sexual function, inflammation, and immune system responses. There are five melanocortin receptors, MC1r through MC5r. Modulation
of these receptors, through use of receptor-specific agonists, which activate receptor function, or receptor-specific antagonists,
which block receptor function, can have significant pharmacological effects.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The
Company’s lead product, Vyleesi®, was approved by the U.S. Food and Drug Administration (“FDA”) in June
2019 and was being marketed in North America by AMAG Pharmaceuticals, Inc. (“AMAG”) for the treatment of hypoactive
sexual desire disorder (“HSDD”) in premenopausal women pursuant to a license agreement between them for Vyleesi for
North America, which was entered into on January 8, 2017 (the “AMAG License Agreement”). As disclosed in Note 5, the
AMAG License Agreement was terminated effective July 24, 2020, and the Company is now marketing Vyleesi in North America.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The
Company’s new product development activities focus primarily on MC1r agonists, with potential to treat inflammatory and
autoimmune diseases such as dry eye disease, which is also known as keratoconjunctivitis sicca, uveitis, diabetic retinopathy,
and inflammatory bowel disease. The Company believes that the MC1r agonist peptides in development have broad anti-inflammatory
effects and appear to utilize mechanisms engaged by the endogenous melanocortin system in regulation of the immune system and
resolution of inflammatory responses. The Company is also developing peptides that are active at more than one melanocortin receptor,
and MC4r peptide and small molecule agonists with potential utility in obesity and metabolic-related disorders, including rare
disease and orphan indications.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Natriuretic
Peptide Receptor System</i>. The natriuretic peptide receptor (“NPR”) system regulates cardiovascular functions, and
therapeutic agents modulating this system have potential to treat cardiovascular and fibrotic diseases. The Company has designed
and is developing potential NPR candidate drugs selective for one or more different natriuretic peptide receptors, including natriuretic
peptide receptor-A (“NPR-A”), natriuretic peptide receptor B (“NPR-B”), and natriuretic peptide receptor
C (“NPR-C”).</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Business
Risks and Liquidity –</i> Since inception, the Company has generally incurred negative cash flows from operations, and has
expended, and expects to continue to expend, substantial funds to develop the capability to market and distribute Vyleesi in the
United States and complete its planned product development efforts. As shown in the accompanying consolidated financial statements,
the Company had an accumulated deficit as of March 31, 2021 of $337,861,113 and a net loss for the three and nine months ended
March 31, 2021 of $5,729,660 and $19,662,211, respectively, and the Company anticipates incurring significant expenses in the
future as a result of spending on developing marketing and distribution capabilities for Vyleesi in the United States and spending
on its development programs, and will require substantial additional financing or revenues to continue to fund its planned developmental
activities. To achieve sustained profitability, if ever, the Company, alone or with others, must successfully develop and commercialize
its technologies and proposed products, conduct successful preclinical studies and clinical trials, obtain required regulatory
approvals, and successfully manufacture and market such technologies and proposed products. The time required to reach sustained
profitability is highly uncertain, and the Company may never be able to achieve profitability on a sustained basis, if at all.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">As
of March 31, 2021, the Company’s cash and cash equivalents were $68,641,312 and current liabilities were $10,036,841. Management
intends to utilize existing capital resources for general corporate purposes and working capital, including establishing marketing
and distribution capabilities for Vyleesi in the United States and preclinical and clinical development of the Company’s
MC1r and MC4r peptide programs and natriuretic peptide program, and development of other portfolio products.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Management
believes that the Company’s cash and cash equivalents as of March 31, 2021 will be sufficient to fund its current operating
plans through at least twelve months from the date of issuance of these consolidated financial statements. The Company will need
additional funding to complete required clinical trials for its other product candidates and, assuming those clinical trials are
successful, as to which there can be no assurance, to complete submission of required applications to the FDA. If the Company
is unable to obtain approval or otherwise advance in the FDA approval process, the Company’s ability to sustain its operations
could be materially adversely affected.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The
Company may seek the additional capital necessary to fund its operations through public or private equity offerings, collaboration
agreements, debt financings or licensing arrangements. Additional capital that is required by the Company may not be available
on reasonable terms, or at all.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">In
March 2020, the World Health Organization declared COVID-19, a disease caused by a novel strain of coronavirus, a pandemic. The
Company has taken steps to ensure the safety and well-being of its employees and clinical trial patients to comply with guidance
from federal, state, and local authorities, while working to ensure the sustainability of its business operations as this unprecedented
situation continues to evolve. In mid-March 2020, the Company transitioned to a company-wide work from home policy. Business-critical
activities continue to be subject to heightened precautions to ensure safety of employees. The Company continues to assess its
policies, business continuity plans, and employee support.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The
Company continues to evaluate the impact of COVID-19 on the healthcare system and work with contract research organizations supporting
its clinical, research, and development programs to mitigate risk to patients and its business and community partners, taking
into account regulatory, institutional, and government guidance and policies.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The
Company will receive a royalty on sales of Vyleesi by our licensees. We have licensed third parties to sell Vyleesi in China and
Korea. The COVID-19 coronavirus could adversely impact the time required to obtain regulatory approvals to sell Vyleesi in China
and Korea, which would delay when the Company receives royalty income from sales in those countries.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The
Company cannot be certain what the overall impact of the COVID-19 pandemic, including resurgence of cases in the United States,
will be on its business and it has the potential to materially adversely affect its business, financial condition and results
of operations and cashflows during fiscal 2021 and beyond.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Concentrations
–</i> Concentrations in the Company’s assets and operations subject it to certain related risks. Financial instruments
that subject the Company to concentrations of credit risk primarily consist of cash, cash equivalents, and accounts receivable.
The Company’s cash and cash equivalents are primarily invested in one money market account sponsored by a large financial
institution. For the nine months ended March 31, 2021, the Company recorded a gain of $1,623,795 related to the termination of
the AMAG License Agreement. For the nine months ended March 31, 2020, the Company reported $117,989 in revenue related to the
AMAG License Agreement.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The
accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally
accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions
to Form 10-Q. Accordingly, they do not include all of the information and footnote disclosures required to be presented for complete
financial statements. In the opinion of management, these consolidated financial statements contain all adjustments (consisting
of normal recurring adjustments) considered necessary for fair presentation. The results of operations for the three and nine
months ended March 31, 2021 may not necessarily be indicative of the results of operations expected for the full year.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The
accompanying unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial
statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended June 30, 2020, filed
with the Securities and Exchange Commission (“SEC”), which includes consolidated financial statements as of June 30,
2020 and 2019 and for each of the fiscal years in the three-year period ended June 30, 2020.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Principles
of Consolidation</i> – The consolidated financial statements include the accounts of Palatin and its wholly-owned inactive
subsidiary. All intercompany accounts and transactions have been eliminated in consolidation.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Use
of Estimates</i> – The preparation of consolidated financial statements in conformity with U.S. GAAP requires management
to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets
and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during
the reporting period. Actual results could differ from those estimates.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Cash
and Cash Equivalents</i> – Cash and cash equivalents include cash on hand, cash in banks, and all highly liquid investments
with a purchased maturity of less than three months. Cash equivalents consist of $68,452,269 and $82,406,697 in a money market
account at March 31, 2021 and June 30, 2020, respectively.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Fair
Value of Financial Instruments</i> – The Company’s financial instruments consist primarily of cash equivalents, accounts
receivable, and accounts payable. Management believes that the carrying values of cash equivalents, accounts receivable, and accounts
payable are representative of their respective fair values based on the short-term nature of these instruments.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Credit
Risk</i> – Financial instruments which potentially subject the Company to concentrations of credit risk consist principally
of cash, cash equivalents, and accounts receivable. Total cash and cash equivalent balances have exceeded balances insured by
the Federal Depository Insurance Company. Currently accounts receivable are due exclusively from AMAG.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Inventories
</i>– Inventory is stated at the lower of cost or net realizable value, with cost being determined on a first-in, first-out
basis.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">On
a quarterly basis, the Company reviews inventory levels to determine whether any obsolete, expired, or excess inventory exists.
If any inventory is expected to expire prior to being sold, has a cost basis in excess of its net realizable value, is in excess
of expected sales requirements as determined by internal sales forecasts, or fails to meet commercial sale specifications, the
inventory is written-down through a charge to cost of products sold. Once packaged, inventory has a shelf-life ranging from three
to five years.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Property
and Equipment</i> – Property and equipment consists of office and laboratory equipment, office furniture and leasehold improvements
and includes assets acquired under finance leases. Property and equipment are recorded at cost. Depreciation is recognized using
the straight-line method over the estimated useful lives of the related assets, generally five years for laboratory and computer
equipment, seven years for office furniture and equipment, and the lesser of the term of the lease or the useful life for leasehold
improvements. Amortization of assets acquired under finance leases is included in depreciation expense. Maintenance and repairs
are expensed as incurred while expenditures that extend the useful life of an asset are capitalized. Accumulated depreciation
and amortization was $2,491,405 and $2,452,845 as of March 31, 2021 and June 30, 2020, respectively.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Impairment
of Long-Lived Assets</i> – The Company reviews its long-lived assets for impairment whenever events or changes in circumstances
indicate that the carrying amount of the assets may not be fully recoverable. To determine recoverability of a long-lived asset,
management evaluates whether the estimated future undiscounted net cash flows from the asset are less than its carrying amount.
If impairment is indicated, the long-lived asset would be written down to fair value. Fair value is determined by an evaluation
of available price information at which assets could be bought or sold, including quoted market prices, if available, or the present
value of the estimated future cash flows based on reasonable and supportable assumptions.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">  </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Leases
</i>- At lease inception, the Company determines whether an arrangement is or contains a lease. Operating leases are included
in operating lease right-of-use (“ROU”) assets, current operating lease liabilities, and noncurrent operating lease
liabilities in the consolidated financial statements. ROU assets represent the Company’s right to use leased assets over
the term of the lease. Lease liabilities represent the Company’s contractual obligation to make lease payments over the
lease term. For operating leases, ROU assets and lease liabilities are recognized at the commencement date. The lease liability
is measured as the present value of the lease payments over the lease term. The Company uses the rate implicit in the lease if
it is determinable. When the rate implicit in the lease is not determinable, the Company uses an estimate based on a hypothetical
rate provided by a third party as the Company currently does not have issued debt. Operating ROU assets are calculated as the
present value of the remaining lease payments plus unamortized initial direct costs plus any prepayments less any unamortized
lease incentives received. Lease terms may include renewal or extension options to the extent they are reasonably certain to be
exercised. The assessment of whether renewal or extension options are reasonably certain to be exercised is made at lease commencement.
Factors considered in determining whether an option is reasonably certain of exercise include, but are not limited to, the value
of any leasehold improvements, the value of renewal rates compared to market rates, and the presence of factors that would cause
incremental costs to the Company if the option were not exercised. Lease expense is recognized on a straight-line basis over the
lease term. The Company has elected not to recognize an ROU asset and obligation for leases with an initial term of twelve months
or less. The expense associated with short term leases is included in general and administrative expense in the statement of operations.
To the extent a lease arrangement includes both lease and non-lease components, the Company has elected to account for the components
as a single lease component.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The
Company extended its lease for existing laboratory space through October 31, 2023 and during the three months ended March 31,
2021 recorded an additional $296,774 in ROU assets and lease obligations. The Company also has operating leases for office space,
which expires on June 30, 2025, copier equipment that expire on October 15, 2021, and phone equipment that expire on June 30,
2023.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Revenue
Recognition</i> – The Company principally sells Vyleesi to specialty pharmacies and payment is currently made within approximately
30 days. The specialty pharmacies subsequently resell the products to healthcare providers and patients. In addition to distribution
agreements with customers, the Company enters into arrangements with healthcare providers and payers that provide for privately
negotiated rebates, chargebacks, and discounts with respect to the purchase of the Company’s products.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Revenue
from product sales is recognized when control is transferred to the customer, which generally occurs at the point in time when
the goods are shipped. In instances when the Company performs shipping and handling activities, these are considered fulfillment
activities, and accordingly, the costs are accrued when the related revenue is recognized.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The
Company records product revenues net of allowances for direct and indirect fees, discounts, estimated chargebacks and rebates.
Product sales are also subject to return rights, which have not been significant to date.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Gross
product sales were offset by product sales allowances for the three and nine months ended March 31, 2021 as follows:</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Three
Months Ended March 31, 2021</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Nine
Months Ended March 31, 2021</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; width: 76%"><font style="font: 8pt Times New Roman, Times, Serif">Gross
product sales</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,780,020</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,533,070</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">     Provision
for product sales allowances and accruals</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(1,691,279</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(3,896,860</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Net
sales</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">88,741</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(363,790</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">   </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">For
licenses of intellectual property, the Company assesses at contract inception whether the intellectual property is distinct from
other performance obligations identified in the arrangement. If the licensing of intellectual property is determined to be distinct,
revenue is recognized for nonrefundable, upfront license fees when the license is transferred to the customer and the customer
can use and benefit from the license. If the licensing of intellectual property is determined not to be distinct, then the license
is bundled with other promises in the arrangement into one performance obligation. The Company needs to determine if the bundled
performance obligation is satisfied over time or at a point in time. If the Company concludes that the nonrefundable, upfront
license fees will be recognized over time, the Company will need to assess the appropriate method of measuring proportional performance.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Regulatory
milestone payments are excluded from the transaction price due to the inability to estimate the probability of reversal. Revenue
relating to achievement of these milestones is recognized in the period in which the milestone is achieved.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Sales-based
royalty and milestone payments resulting from customer contracts solely or predominately for the license of intellectual property
will only be recognized upon occurrence of the underlying sale or achievement of the sales milestone in the future and such sales-based
royalties and milestone payments will be recognized in the same period earned.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The
Company recognizes revenue for reimbursements of research and development costs under collaboration agreements as the services
are performed. The Company records these reimbursements as revenue and not as a reduction of research and development expenses
as the Company is the principal in the research and development activities based upon its control of such activities, which is
considered part of its ordinary activities.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Development
milestone payments are generally due 30 business days after the milestone is achieved. Sales milestone payments are generally
due 45 business days after the calendar year in which the sales milestone is achieved. Royalty payments are generally due on a
quarterly basis 20 business days after being invoiced.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Research
and Development Costs</i> – The costs of research and development activities are charged to expense as incurred, including
the cost of equipment for which there is no alternative future use.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Accrued
Expenses –</i> Third parties perform a significant portion of the Company’s development activities. The Company reviews
the activities performed under all contracts each quarter and accrues expenses and the amount of any reimbursement to be received
from its collaborators based upon the estimated amount of work completed. Estimating the value or stage of completion of certain
services requires judgment based on available information. If the Company does not identify services performed for it but not
billed by the service-provider, or if it underestimates or overestimates the value of services performed as of a given date, reported
expenses will be understated or overstated.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Stock-Based
Compensation –</i> The Company charges to expense the fair value of stock options and other equity awards granted. Compensation
costs for stock-based awards with time-based vesting are determined using the quoted market price of the Company’s common
stock on the date of grant or for stock options, the value determined utilizing the Black-Scholes option pricing model, and are
recognized on a straight-line basis, while awards containing a market condition are valued using multifactor Monte Carlo simulations.
Compensation costs for awards containing a performance condition are determined using the quoted price of the Company’s
common stock on the date of grant or for stock options, the value determined utilizing the Black Scholes option pricing model
and are recognized based on the probability of achievement of the performance condition over the service period. Forfeitures are
recognized as they occur.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Income
Taxes</i> – The Company and its subsidiary file consolidated federal and separate-company state income tax returns. Income
taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future
tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their
respective tax basis and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted
tax rates expected to apply to taxable income in the years in which those temporary differences or operating loss and tax credit
carryforwards are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates
is recognized in the period that includes the enactment date. The Company has recorded and continues to maintain a full valuation
allowance against its deferred tax assets based on the history of losses incurred and lack of experience projecting future product
revenue and sales-based royalty and milestone payments.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Net
Loss per Common Share -</i> Basic and diluted loss per common share (“EPS”) are calculated in accordance with the
provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”)
Topic 260, <i>Earnings per Share</i>.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">For
the three and nine months ended March 31, 2021 and 2020, no additional common shares were added to the computation of diluted
EPS because to do so would have been anti-dilutive. The potential number of common shares excluded from diluted EPS during the
three and nine months ended March 31, 2021 and 2020 was 37,336,040 and 33,166,477, respectively.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">   </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Included
in the weighted average common shares used in computing basic and diluted net loss per common share are 6,776,750 and 6,079,250
vested restricted stock units that had not been issued as of March 31, 2021 and 2020, respectively, due to a provision in the
restricted stock unit agreements to delay delivery.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Translation
of foreign currencies</i> - Transactions denominated in currencies other than the Company’s functional currency (US Dollar)
are recorded based on exchange rates at the time such transactions arise. Subsequent changes in exchange rates result in transaction
gains and losses, which are reflected in the consolidated statements of operations as unrealized (based on the applicable period-end
exchange rate) or realized upon settlement of the transactions.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif; background-color: white">In
August 2020, the FASB issued Accounting Standards Update (“ASU”) No. 2020-06, <i>Debt (Topic 470) and Derivatives
and Hedging (Topic 815): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity.</i> The amendments
in this update address issues identified as a result of the complexity associated with applying U.S. GAAP for certain financial
instruments with characteristics of liabilities and equity. The guidance is effective for public entities for fiscal years beginning
after December 15, 2021, and for interim periods within those fiscal years, with early adoption permitted. The guidance is applicable
to the Company beginning July 1, 2022. The Company is currently evaluating the potential effects of this guidance on its consolidated
financial statements.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif; background-color: white">In
December 2019, the FASB issued ASU No. 2019-12, <i>Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.</i>
The amendments in this update simplify the accounting for income taxes by removing certain exceptions to the general principles
in Topic 740. The amendments also improve consistent application and simplify U.S. GAAP for other areas of Topic 740 by clarifying
and amending existing guidance. The guidance is effective for public entities for fiscal years beginning after December 15, 2020,
and for interim periods within those fiscal years, with early adoption permitted. The guidance is applicable to the Company beginning
July 1, 2021. The Company is currently evaluating the potential effects of this guidance on its consolidated financial statements.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif; background-color: white">In
November 2018, the FASB issued ASU No. 2018-18, <i>Collaborative Arrangements (Topic 808): Clarifying the Interaction between
Topic 808 and Topic 606.</i> </font><font style="font: 8pt Times New Roman, Times, Serif">This update
provides clarification on the interaction between Revenue Recognition (Topic 606) and Collaborative Arrangements (Topic 808),
including the alignment of unit of account guidance between the two topics<font style="background-color: white">. The guidance
is effective for public entities for fiscal years beginning after December 15, 2019, and for interim periods within those fiscal
years, with early adoption permitted. The guidance was applicable to the Company beginning July 1, 2020. The adoption of
this standard did not have a material impact on the Company’s consolidated financial statements.</font></font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">In
June 2016, the FASB issued ASU No. 2016-13, <i>Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial
Instruments,</i> which requires measurement and recognition of expected credit losses for financial assets held at the reporting
date based on historical experience, current conditions, and reasonable and supportable forecasts. This is different from the
current guidance as this will require immediate recognition of estimated credit losses expected to occur over the remaining life
of many financial assets. The new guidance will be effective for the Company on July 1, 2023 with early adoption permitted. The
adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">On
January 8, 2017, the Company entered into the AMAG License Agreement pursuant to which the Company granted AMAG (i) an exclusive
license in all countries of North America (the “Territory”), with the right to grant sub-licenses, to research, develop,
and commercialize products containing Vyleesi (each a “Product”, and collectively, “Products”), (ii) a
non-exclusive license in the Territory, with the right to grant sub-licenses, to manufacture the Products, and (iii) a non-exclusive
license in all countries outside the Territory, with the right to grant sub-licenses, to research, develop, and manufacture (but
not commercialize) the Products.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">   </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Following
the satisfaction of certain conditions to closing, the AMAG License Agreement became effective on February 2, 2017, and AMAG paid
the Company $60,000,000 as a one-time initial payment. Under the AMAG License Agreement, AMAG reimbursed the Company $25,000,000
for reasonable, documented, direct out-of-pocket expenses incurred by the Company following February 2, 2017, in connection with
development and regulatory activities necessary to file a New Drug Application (“NDA”) for Vyleesi for HSDD in the
United States.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The
Company determined there was no stand-alone value for the license, and that the license and the reimbursable direct out-of-pocket
expenses, pursuant to the terms of the AMAG License Agreement, represented a combined unit of accounting which totaled $85,000,000.
The Company recognized revenue of the combined unit of accounting over the arrangement using the input-based proportional method
as the Company completed its development obligations. During the nine months ended March 31, 2020, license and contract revenue
included additional billings for AMAG related Vyleesi costs of $117,989.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">On
June 4, 2018, the FDA accepted the Vyleesi NDA for filing. The FDA’s acceptance triggered a $20,000,000 milestone payment
to Palatin from AMAG. As a result, the Company recognized $20,000,000 in revenue related to regulatory milestones in fiscal 2018.
On June 21, 2019, the FDA granted approval of Vyleesi for use in the United States. The FDA’s approval triggered a $60,000,000
milestone payment to Palatin from AMAG. As a result, the Company recognized $60,000,000 in revenue related to regulatory milestones
in fiscal 2019.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Effective
July 24, 2020, the Company entered into a termination agreement (the “Termination Agreement”) with AMAG terminating
the AMAG License Agreement. Under the terms of the Termination Agreement, the Company has regained all development and commercialization
rights for Vyleesi in the Territory. AMAG made a $12,000,000 payment to the Company at closing of the Termination Agreement and
a $4,300,000 payment to the Company on March 31, 2021. The Company recorded a liability related to estimated losses on inventory
purchase commitments of $18,194,000 as well as accrued expenses for an inventory production run obligation assumed of $2,300,000.
As a result, the Company recorded a net gain for the Termination Agreement of $1,623,795. The Company has assumed all Vyleesi
manufacturing agreements, and AMAG transferred information, data, and assets related exclusively to Vyleesi to the Company, including
existing inventory with a fair value of $5,817,795.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Under
the Termination Agreement, AMAG provided certain transitional services to the Company for a period to ensure continued patient
access to Vyleesi during the transition back to the Company. The Company is reimbursing AMAG for the agreed upon costs of the
transition services.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Pursuant
to the Termination Agreement, the Company assumed Vyleesi manufacturing contracts with Catalent Belgium S.A. (“Catalent”),
a subsidiary of Catalent Pharma Solutions, Inc., to manufacture drug product and prefilled syringes and assemble prefilled syringes
into an auto-injector device (the “Catalent Agreement”), Ypsomed AG (“Ypsomed”), to manufacture the auto-injector
device (the “Ypsomed Agreement”), and Lonza Ltd. (“Lonza”), to manufacture the active pharmaceutical ingredient
peptide (the “Lonza Agreement”).</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">On
September 29, 2020, the Company and Catalent entered into an agreement to terminate the Catalent Agreement (the “Catalent
Termination Agreement”) in consideration for a one-time payment of six million euros (€6,000,000) which was paid in
October 2020 and accrued as part of the estimated losses on inventory purchase commitments assumed as part of the Termination
Agreement as discussed in Note 5.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The
Company and Catalent then entered into a new Vyleesi manufacturing agreement (the “New Catalent Agreement”) which
includes reduced minimum annual purchase requirements (see Note 13) as compared to the original Catalent Agreement and modification
of other financial terms. The New Catalent Agreement provides that Catalent will provide manufacturing and supply services to
Palatin related to production of Vyleesi, including that Catalent will supply specified minimums of Palatin’s requirements
for Vyleesi during the term of the New Catalent Agreement through August 21, 2025, unless earlier terminated in accordance with
the terms of the New Catalent Agreement. The initial term of the New Catalent Agreement will be automatically extended for one
24-month period unless either party notifies the other of its desire to terminate as of the end of the initial term. The New Catalent
Agreement also includes customary terms and conditions relating to forecasting and minimum commitments, ordering, delivery, inspection
and acceptance, and termination, among other matters.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The
term of the Lonza Agreement is through December 31, 2022. There are specified minimum purchase requirements under the Lonza Agreement,
and under specified circumstances, termination fees may be payable upon termination of the Lonza Agreement by the Company (see
Note 13).</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">  </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The
initial term of the Ypsomed Agreement is through December 31, 2025, with automatic renewal for successive one-year periods unless
either party terminates the Ypsomed Agreement by ten months’ written notice prior to the expiration of the Ypsomed Agreement
or any automatic renewal period. There are specified minimum purchase requirements under the Ypsomed Agreement, and under specified
circumstances, termination fees may be payable upon termination of the Ypsomed Agreement by the Company (see Note 13).</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">On
September 6, 2017, the Company entered into a license agreement with Fosun (“Fosun License Agreement”) for exclusive
rights to commercialize Vyleesi in China. Under the terms of the agreement, the Company received $4,500,000 in October 2017, which
consisted of an upfront payment of $5,000,000 less $500,000 that was withheld in accordance with tax withholding requirements
in China and recorded as an expense during the year ended June 30, 2018. The Company will receive a $7,500,000 milestone payment
when regulatory approval in China is obtained, provided that a commercial supply agreement for Vyleesi has been entered into.
Palatin has the potential to receive up to $92,500,000 in additional sales related milestone payments and high single-digit to
low double-digit royalties on net sales in the licensed territory. All development, regulatory, sales, marketing, and commercial
activities and associated costs in the licensed territory will be the sole responsibility of Fosun.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">On
November 21, 2017, the Company entered into a license agreement with Kwangdong (“Kwangdong License Agreement”) for
exclusive rights to commercialize Vyleesi in Korea. Under the terms of the agreement, the Company received $417,500 in December
2017, consisting of an upfront payment of $500,000, less $82,500, which was withheld in accordance with tax withholding requirements
in Korea and recorded as an expense during the year ended June 30, 2018. The Company will receive a $3,000,000 milestone payment
based on the first commercial sale in Korea. Palatin has the potential to receive up to $37,500,000 in additional sales related
milestone payments and mid-single-digit to low double-digit royalties on net sales in the licensed territory. All development,
regulatory, sales, marketing, and commercial activities and associated costs in the licensed territory will be the sole responsibility
of Kwangdong.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Prepaid
expenses<b> </b>and other current assets consist of the following:</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>March
31,</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>June
30,</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2021</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2020</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; width: 76%"><font style="font: 8pt Times New Roman, Times, Serif">Clinical
/ regulatory costs</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">313,761</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">43,625</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Insurance
premiums</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">39,377</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">84,741</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Vyleesi
contractual advances</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,200,000</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Other</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,207,104</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">609,850</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,760,242</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">738,216</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The
fair value of cash equivalents is classified using a hierarchy prioritized based on inputs. Level 1 inputs are quoted prices (unadjusted)
in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in
active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration,
for substantially the full term of the financial instrument. Level 3 inputs are unobservable inputs based on management’s
own assumptions used to measure assets and liabilities at fair value. A financial asset’s or liability’s classification
within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The
following table provides the assets carried at fair value:</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">Carrying
Value</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">Quoted
prices in active markets</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">(Level
1)</font></p></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">Other
quoted/observable inputs (Level 2)</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">Significant
unobservable inputs (Level 3)</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">March
31, 2021:</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; width: 52%; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">Money
Market Account</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">68,452,269</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">68,452,269</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">June
30, 2020:</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">Money
Market Account</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">82,406,697</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">82,406,697</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Accrued
expenses<b> </b>consist of the following:</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>March
31,</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>June
30,</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2021</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2020</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; width: 76%"><font style="font: 8pt Times New Roman, Times, Serif">Clinical
/ regulatory costs</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">325,546</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,722,729</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Other
research related expenses</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">854,176</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">586,185</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Professional
services</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">60,047</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">217,662</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Inventory
purchases</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,300,000</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Selling
expenses</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,542,475</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Other</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">115,515</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">372,521</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">5,197,759</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,899,097</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">On
July 2, 2015, the Company closed on a $10,000,000 venture loan led by Horizon Technology Finance Corporation (“Horizon”).
The debt facility was a four-year senior secured term loan that bore interest at a floating coupon rate of one-month LIBOR (floor
of 0.50%) plus 8.50% and provided for interest-only payments for the first eighteen months followed by monthly payments of principal
of $333,333 plus accrued interest through August 1, 2019. The lenders also received five-year immediately exercisable Series G
warrants to purchase 549,450 shares of the Company’s common stock exercisable at an exercise price of $0.91 per share. The
Company recorded a debt discount of $305,196 equal to the fair value of these warrants at issuance, which were amortized to interest
expense over the term of the related debt. This debt discount was offset against the note payable balance and was included in
additional paid-in capital on the Company’s balance sheet. In addition, a final incremental payment of $500,000 was due
on August 1, 2019. This final incremental payment was accreted to interest expense over the term of the related debt and was included
in other current liabilities on the consolidated balance sheet. The Company incurred $146,115 of costs in connection with the
loan agreement. These costs were capitalized as deferred financing costs and were offset against the note payable balance. These
debt issuance costs were amortized to interest expense over the term of the related debt. During the nine months ended March 31,
2020, the loan matured, and on July 31, 2019, the Company made the final incremental payment of $500,000.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">As
a result of the Termination Agreement and subsequent activity, the Company has certain supply agreements with manufacturers and
suppliers, including the New Catalent Agreement, Lonza Agreement, and Ypsomed Agreement. The Company is required to make certain
payments for the manufacture and supply of Vyleesi. The following table summarizes the contractual obligations under the New Catalent
Agreement, Lonza Agreement, and Ypsomed. Agreement as of March 31, 2021:</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b> Total</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Current</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>1-3
Years</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>4-5
Years</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; width: 52%"><font style="font: 8pt Times New Roman, Times, Serif"> Inventory
purchase commitments</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">11,072,000</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,628,000</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">6,484,000</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">960,000</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">As
of March 31, 2021, the Company has $3,628,000 and $6,972,832 accrued within other current and long-term liabilities, respectively,
in the consolidated balance sheet related to estimated losses for firm commitment contractual obligations under these agreements.
Losses on these firm commitment contractual obligations are recognized based upon the terms of the respective agreement and similar
factors considered for the write-down of inventory, including expected sales requirements as determined by internal sales forecasts.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The
commitment contractual obligation amounts above are denominated in Swiss Francs and Euros and have been translated using period
end exchange rates. The Company may experience a negative impact on future earnings and equity solely as a result of future foreign
currency exchange rate fluctuations.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The
Company is subject to numerous contingencies, such as product liability, arising in the ordinary course of business. Loss contingency
provisions are recorded for probable losses when management is able to reasonably estimate the loss. Any outcome upon settlement
that deviates from the Company’s best estimate may result in additional expense or in a reduction in expense in a future
accounting period. The Company records legal expenses associated with such contingencies as incurred. </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Financing
Transactions – </i>On June 21, 2019, the Company entered into an equity distribution agreement with Canaccord Genuity
LLC (“Canaccord”) (the “2019 Equity Distribution Agreement”), pursuant to which the Company may, from
time to time, sell shares of the Company’s common stock at market prices by methods deemed to be an “at-the-market
offering” as defined in Rule 415 promulgated under the Securities Act of 1933, as amended. The 2019 Equity Distribution
Agreement and related prospectus is limited to sales of up to an aggregate maximum $40.0 million of shares of the Company’s
common stock. The Company pays Canaccord 3.0% of the gross proceeds as a commission.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Proceeds
raised under the 2019 Equity Distribution Agreement are as follows:</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Nine
Months Ended March 31, 2021</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Nine
Months Ended March 31, 2020</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Cumulative
from inception</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Shares</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Proceeds</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Shares</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Proceeds</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Shares</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Proceeds</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; width: 37%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Gross
proceeds</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 7%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 7%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 2%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 7%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,895,934</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 7%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,723,194</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 2%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 7%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">9,460,509</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 7%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">12,330,242</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 2%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>Fees</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(51,696</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(369,908</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>Expenses</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(90,000</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(90,000</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>Net
proceeds</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"><b>-</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>$</b></font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"><b>-</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"><b>1,895,934</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>$</b></font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"><b>1,581,498</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"><b>9,460,509</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>$</b></font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"><b>11,870,334</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Stock
Purchase Warrants</i> – On September 13, 2019, the Company’s Board of Directors approved a plan to offer to purchase
and terminate certain outstanding common stock purchase warrants through privately negotiated transactions. The purchase and termination
program has no time limit and may be suspended for periods or discontinued at any time.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">During
the nine months ended March 31, 2020, the Company entered into several warrant termination agreements to repurchase and cancel
the following previously issued Series F, Series H, and Series J warrants for the following aggregate buyback prices:</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Nine
months ended March 31, 2020</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Warrants</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Buyback
price</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; width: 75%"><font style="font: 8pt Times New Roman, Times, Serif">Series
F Warrants</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">297,352</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">62,712</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 2%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Series
H Warrants</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,466,432</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">577,373</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Series
J Warrants</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,774,889</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,907,381</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">6,538,673</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,547,466</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">During
the nine months ended March 31, 2020, the Company issued 26,861 shares of common stock upon the cashless exercise provisions of
666,666 Series D warrants at an exercise price of $0.75 per share.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Stock
Options –</i> For the three and nine months ended March 31, 2021, the Company recorded stock-based compensation related
to stock options of $453,439 and $1,409,224, respectively. For the three and nine months ended March 31, 2020, the Company recorded
stock-based compensation related to stock options of $348,880 and $1,027,604, respectively.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">A
summary of stock option activity is as follows:</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Number
of Shares</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Weighted
Average Exercise Price</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Weighted
Average Remaining Term in Years</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Aggregate
Intrinsic Value</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; width: 52%"><font style="font: 8pt Times New Roman, Times, Serif">Outstanding
- June 30, 2020</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">19,902,450</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.76</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">7.4</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">380,514</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">Granted</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">409,500</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.69</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">Forfeited</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(487,126</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.75</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">Exercised</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">Expired</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(14,000</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1.70</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Outstanding
- March 31, 2021</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">19,810,824</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.76</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">6.7</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,631,093</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Exercisable
at March 31, 2021</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">11,517,324</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.78</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">5.2</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">873,610</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Expected
to vest at March 31, 2021</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">8,293,500</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.74</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">8.6</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">757,483</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Stock
options granted to the Company’s executive officers and employees generally vest over a 48-month period, while stock options
granted to its non-employee directors vest over a 12-month period.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Included
in the options outstanding above are 1,994,500 and 188,084 performance-based options granted in June 2020 to executive officers
and employees, respectively. The performance-based options vest on performance criteria relating to advancement of MC1r programs,
including initiation of clinical trials and licensing of Vyleesi in additional countries or regions.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">   </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Also
included in the table above are 1,075,000 and 117,500 performance-based options granted in December 2017 to executive officers
and employees, respectively, which were eligible to vest during a performance period ended on December 31, 2020, if and upon either
i) as to 100% of the target number of shares upon achievement of a closing price for the Company’s common stock equal to
or greater than $1.50 per share for 20 consecutive trading days, which is considered a market condition; or ii) as to thirty percent
(30%) of the target number of shares, upon the acceptance for filing by the FDA of an NDA for Vyleesi for HSDD in premenopausal
women during the performance period, which is considered a performance condition; iii) as to fifty percent (50%) of the target
number of shares, upon the approval by the FDA of an NDA for Vyleesi for HSDD in premenopausal women during the performance period,
which is also considered a performance condition; iv) as to twenty percent (20%) of the target number of shares, upon entry into
a licensing agreement during the performance period for the commercialization of Vyleesi for FSD in at least two of the following
geographic areas (a) four or more countries in Europe, (b) Japan, (c) two or more countries in Central and/or South America, (d)
two or more countries in Asia, excluding Japan and China, and (e) Australia, which is also considered a performance condition.
The fair value of these options was $602,760. The Company amortized the fair value over the derived service period of 1.1 years
or upon the attainment of the performance condition. Pursuant to the FDA acceptance of the NDA filing of Vyleesi, 30% of the target
number of options vested in June 2018 and 50% of the target number of options vested in June 2019 upon FDA approval of Vyleesi.
During the three months ended December 31, 2020, the performance period ended for the remaining performance-based stock options.
As a result, 240,000 unearned stock options were forfeited and added back to the Company’s 2011 Stock Incentive Plan (“2011
Stock Plan”) and available for future grant.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Restricted
Stock Units –</i> For the three and nine months ended March 31, 2021, the Company recorded stock-based compensation related
to restricted stock units of $321,866 and $1,049,938, respectively. For the three and nine months ended March 31, 2020, the Company
recorded stock-based compensation related to restricted stock units of $353,246 and $1,307,193, respectively.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">A
summary of restricted stock unit activity is as follows:</font></p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>RSUs</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; width: 88%"><font style="font: 8pt Times New Roman, Times, Serif">Outstanding
at July 1, 2020</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">12,965,570</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">Granted</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">Forfeited</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(411,068</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">Vested</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(958,090</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Outstanding
at March 31, 2021</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">11,596,412</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Included
in outstanding restricted stock units in the table above are 6,776,750 vested shares that have not been issued as of March 31,
2021 due to a provision in the restricted stock unit agreements to delay delivery.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Time-based
restricted stock units granted to the Company’s executive officers, employees, and non-employee directors generally vest
over 48 months, 48 months, and 12 months, respectively.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">In
June 2020, the Company granted 1,203,500 performance-based restricted stock units to its executive officers and 113,484 performance-based
restricted stock units to other employees which vest during a performance period ending June 24, 2024. The performance-based restricted
stock units vest on performance criteria relating to advancement of MC1r programs, including initiation of clinical trials and
licensing of Vyleesi in additional countries or regions.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">In
June 2019, the Company granted 438,000 performance-based restricted stock units to its executive officers and 182,725 performance-based
restricted stock units to other employees which vest during a performance period ending June 24, 2023. The performance-based restricted
stock units vest on performance criteria relating to advancement of MC1r programs, including initiation of clinical trials and
licensing of Vyleesi in additional countries or regions.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">In
December 2017, the Company granted 1,075,000 performance-based restricted stock units to its executive officers and 670,000 performance-based
restricted stock units to other employees which were eligible to vest during a performance period, ended on December 31, 2020,
if and upon either i) as to 100% of the target number of shares upon achievement of a closing price for the Company’s common
stock equal to or greater than $1.50 per share for 20 consecutive trading days, which is considered a market condition; or ii)
as to thirty percent (30%) of the target number of shares, upon the acceptance for filing by the FDA of an NDA for Vyleesi for
HSDD in premenopausal women during the performance period, which is considered a performance condition; iii) as to fifty percent
(50%) of the target number of shares, upon the approval by the FDA of an NDA for Vyleesi for HSDD in premenopausal women during
the performance period, which is also considered a performance condition; iv) as to twenty percent (20%) of the target number
of shares, upon entry into a licensing agreement during the performance period for the commercialization of Vyleesi for FSD in
at least two of the following geographic areas (a) four or more countries in Europe, (b) Japan, (c) two or more countries in Central
and/or South America, (d) two or more countries in Asia, excluding Japan and China, and (e) Australia, which is also considered
a performance condition. The fair value of these awards was $913,750 and $569,500, respectively. The Company amortized the fair
value over the derived service period of 1.1 years or upon the attainment of the performance condition. Pursuant to the FDA acceptance
of the NDA filing for Vyleesi, 30% of the target number of shares vested in June 2018. Pursuant to the FDA approval of Vyleesi,
50% of the target number of shares vested in June 2019. During the three months ended December 31, 2020, the performance period
ended for the remaining performance based restricted stock units. As a result, 319,500 unearned restricted stock units were forfeited
and added back to the 2011 Stock Plan and available for future grant.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Palatin
Technologies, Inc. (“Palatin” or the “Company”) is a specialized biopharmaceutical company developing
first-in-class medicines based on molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems.
The Company’s product candidates are targeted, receptor-specific therapeutics for the treatment of diseases with significant
unmet medical need and commercial potential.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Melanocortin
Receptor System.</i> The melanocortin receptor (“MCr”) system is hormone driven, with effects on food intake, metabolism,
sexual function, inflammation, and immune system responses. There are five melanocortin receptors, MC1r through MC5r. Modulation
of these receptors, through use of receptor-specific agonists, which activate receptor function, or receptor-specific antagonists,
which block receptor function, can have significant pharmacological effects.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The
Company’s lead product, Vyleesi®, was approved by the U.S. Food and Drug Administration (“FDA”) in June
2019 and was being marketed in North America by AMAG Pharmaceuticals, Inc. (“AMAG”) for the treatment of hypoactive
sexual desire disorder (“HSDD”) in premenopausal women pursuant to a license agreement between them for Vyleesi for
North America, which was entered into on January 8, 2017 (the “AMAG License Agreement”). As disclosed in Note 5, the
AMAG License Agreement was terminated effective July 24, 2020, and the Company is now marketing Vyleesi in North America.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The
Company’s new product development activities focus primarily on MC1r agonists, with potential to treat inflammatory and
autoimmune diseases such as dry eye disease, which is also known as keratoconjunctivitis sicca, uveitis, diabetic retinopathy,
and inflammatory bowel disease. The Company believes that the MC1r agonist peptides in development have broad anti-inflammatory
effects and appear to utilize mechanisms engaged by the endogenous melanocortin system in regulation of the immune system and
resolution of inflammatory responses. The Company is also developing peptides that are active at more than one melanocortin receptor,
and MC4r peptide and small molecule agonists with potential utility in obesity and metabolic-related disorders, including rare
disease and orphan indications.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Natriuretic
Peptide Receptor System</i>. The natriuretic peptide receptor (“NPR”) system regulates cardiovascular functions, and
therapeutic agents modulating this system have potential to treat cardiovascular and fibrotic diseases. The Company has designed
and is developing potential NPR candidate drugs selective for one or more different natriuretic peptide receptors, including natriuretic
peptide receptor-A (“NPR-A”), natriuretic peptide receptor B (“NPR-B”), and natriuretic peptide receptor
C (“NPR-C”).</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Since
inception, the Company has generally incurred negative cash flows from operations, and has expended, and expects to continue to
expend, substantial funds to develop the capability to market and distribute Vyleesi in the United States and complete its planned
product development efforts. As shown in the accompanying consolidated financial statements, the Company had an accumulated deficit
as of March 31, 2021 of $337,861,113 and a net loss for the three and nine months ended March 31, 2021 of $5,729,660 and $19,662,211,
respectively, and the Company anticipates incurring significant expenses in the future as a result of spending on developing marketing
and distribution capabilities for Vyleesi in the United States and spending on its development programs, and will require substantial
additional financing or revenues to continue to fund its planned developmental activities. To achieve sustained profitability,
if ever, the Company, alone or with others, must successfully develop and commercialize its technologies and proposed products,
conduct successful preclinical studies and clinical trials, obtain required regulatory approvals, and successfully manufacture
and market such technologies and proposed products. The time required to reach sustained profitability is highly uncertain, and
the Company may never be able to achieve profitability on a sustained basis, if at all.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">As
of March 31, 2021, the Company’s cash and cash equivalents were $68,641,312 and current liabilities were $10,036,841. Management
intends to utilize existing capital resources for general corporate purposes and working capital, including establishing marketing
and distribution capabilities for Vyleesi in the United States and preclinical and clinical development of the Company’s
MC1r and MC4r peptide programs and natriuretic peptide program, and development of other portfolio products.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">  </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Management
believes that the Company’s cash and cash equivalents as of March 31, 2021 will be sufficient to fund its current operating
plans through at least twelve months from the date of issuance of these consolidated financial statements. The Company will need
additional funding to complete required clinical trials for its other product candidates and, assuming those clinical trials are
successful, as to which there can be no assurance, to complete submission of required applications to the FDA. If the Company
is unable to obtain approval or otherwise advance in the FDA approval process, the Company’s ability to sustain its operations
could be materially adversely affected.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The
Company may seek the additional capital necessary to fund its operations through public or private equity offerings, collaboration
agreements, debt financings or licensing arrangements. Additional capital that is required by the Company may not be available
on reasonable terms, or at all.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">In
March 2020, the World Health Organization declared COVID-19, a disease caused by a novel strain of coronavirus, a pandemic. The
Company has taken steps to ensure the safety and well-being of its employees and clinical trial patients to comply with guidance
from federal, state, and local authorities, while working to ensure the sustainability of its business operations as this unprecedented
situation continues to evolve. In mid-March 2020, the Company transitioned to a company-wide work from home policy. Business-critical
activities continue to be subject to heightened precautions to ensure safety of employees. The Company continues to assess its
policies, business continuity plans, and employee support.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The
Company continues to evaluate the impact of COVID-19 on the healthcare system and work with contract research organizations supporting
its clinical, research, and development programs to mitigate risk to patients and its business and community partners, taking
into account regulatory, institutional, and government guidance and policies.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The
Company will receive a royalty on sales of Vyleesi by our licensees. We have licensed third parties to sell Vyleesi in China and
Korea. The COVID-19 coronavirus could adversely impact the time required to obtain regulatory approvals to sell Vyleesi in China
and Korea, which would delay when the Company receives royalty income from sales in those countries.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The
Company cannot be certain what the overall impact of the COVID-19 pandemic, including resurgence of cases in the United States,
will be on its business and it has the potential to materially adversely affect its business, financial condition and results
of operations and cashflows during fiscal 2021 and beyond.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Concentrations
in the Company’s assets and operations subject it to certain related risks. Financial instruments that subject the Company
to concentrations of credit risk primarily consist of cash, cash equivalents, and accounts receivable. The Company’s cash
and cash equivalents are primarily invested in one money market account sponsored by a large financial institution. For the nine
months ended March 31, 2021, the Company recorded a gain of $1,623,795 related to the termination of the AMAG License Agreement.
For the nine months ended March 31, 2020, the Company reported $117,989 in revenue related to the AMAG License Agreement.</font></p>
<p style="font: 8pt/107% Times New Roman, Times, Serif; margin: 0">The consolidated financial statements include the accounts of
Palatin and its wholly-owned inactive subsidiary. All intercompany accounts and transactions have been eliminated in consolidation</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The preparation of consolidated financial statements in conformity
with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities
and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts
of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Cash and cash equivalents include cash on hand, cash in banks, and
all highly liquid investments with a purchased maturity of less than three months. Cash equivalents consist of $68,452,269 and
$82,406,697 in a money market account at March 31, 2021 and June 30, 2020, respectively.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company’s financial instruments consist primarily of cash
equivalents, accounts receivable, and accounts payable. Management believes that the carrying values of cash equivalents, accounts
receivable, and accounts payable are representative of their respective fair values based on the short-term nature of these instruments.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Financial instruments which potentially subject the Company to concentrations
of credit risk consist principally of cash, cash equivalents, and accounts receivable. Total cash and cash equivalent balances
have exceeded balances insured by the Federal Depository Insurance Company. Currently accounts receivable are due exclusively from
AMAG.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Inventory is stated at the lower of cost or net realizable value,
with cost being determined on a first-in, first-out basis.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">On a quarterly basis, the Company reviews inventory levels to determine
whether any obsolete, expired, or excess inventory exists. If any inventory is expected to expire prior to being sold, has a cost
basis in excess of its net realizable value, is in excess of expected sales requirements as determined by internal sales forecasts,
or fails to meet commercial sale specifications, the inventory is written-down through a charge to cost of products sold. Once
packaged, inventory has a shelf-life ranging from three to five years.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Property and equipment consists of office and laboratory equipment,
office furniture and leasehold improvements and includes assets acquired under finance leases. Property and equipment are recorded
at cost. Depreciation is recognized using the straight-line method over the estimated useful lives of the related assets, generally
five years for laboratory and computer equipment, seven years for office furniture and equipment, and the lesser of the term of
the lease or the useful life for leasehold improvements. Amortization of assets acquired under finance leases is included in depreciation
expense. Maintenance and repairs are expensed as incurred while expenditures that extend the useful life of an asset are capitalized.
Accumulated depreciation and amortization was $2,491,405 and $2,452,845 as of March 31, 2021 and June 30, 2020, respectively.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company reviews its long-lived assets for impairment whenever
events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. To determine recoverability
of a long-lived asset, management evaluates whether the estimated future undiscounted net cash flows from the asset are less than
its carrying amount. If impairment is indicated, the long-lived asset would be written down to fair value. Fair value is determined
by an evaluation of available price information at which assets could be bought or sold, including quoted market prices, if available,
or the present value of the estimated future cash flows based on reasonable and supportable assumptions.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">At lease inception, the Company determines whether an arrangement
is or contains a lease. Operating leases are included in operating lease right-of-use (“ROU”) assets, current operating
lease liabilities, and noncurrent operating lease liabilities in the consolidated financial statements. ROU assets represent the
Company’s right to use leased assets over the term of the lease. Lease liabilities represent the Company’s contractual
obligation to make lease payments over the lease term. For operating leases, ROU assets and lease liabilities are recognized at
the commencement date. The lease liability is measured as the present value of the lease payments over the lease term. The Company
uses the rate implicit in the lease if it is determinable. When the rate implicit in the lease is not determinable, the Company
uses an estimate based on a hypothetical rate provided by a third party as the Company currently does not have issued debt. Operating
ROU assets are calculated as the present value of the remaining lease payments plus unamortized initial direct costs plus any prepayments
less any unamortized lease incentives received. Lease terms may include renewal or extension options to the extent they are reasonably
certain to be exercised. The assessment of whether renewal or extension options are reasonably certain to be exercised is made
at lease commencement. Factors considered in determining whether an option is reasonably certain of exercise include, but are not
limited to, the value of any leasehold improvements, the value of renewal rates compared to market rates, and the presence of factors
that would cause incremental costs to the Company if the option were not exercised. Lease expense is recognized on a straight-line
basis over the lease term. The Company has elected not to recognize an ROU asset and obligation for leases with an initial term
of twelve months or less. The expense associated with short term leases is included in general and administrative expense in the
statement of operations. To the extent a lease arrangement includes both lease and non-lease components, the Company has elected
to account for the components as a single lease component.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company extended its lease for existing laboratory space through
October 31, 2023 and during the three months ended March 31, 2021 recorded an additional $296,774 in ROU assets and lease obligations.
The Company also has operating leases for office space, which expires on June 30, 2025, copier equipment that expire on October
15, 2021, and phone equipment that expire on June 30, 2023.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company principally sells Vyleesi to specialty pharmacies and
payment is currently made within approximately 30 days. The specialty pharmacies subsequently resell the products to healthcare
providers and patients. In addition to distribution agreements with customers, the Company enters into arrangements with healthcare
providers and payers that provide for privately negotiated rebates, chargebacks, and discounts with respect to the purchase of
the Company’s products.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Revenue from product sales is recognized when control is transferred
to the customer, which generally occurs at the point in time when the goods are shipped. In instances when the Company performs
shipping and handling activities, these are considered fulfillment activities, and accordingly, the costs are accrued when the
related revenue is recognized.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company records product revenues net of allowances for direct
and indirect fees, discounts, estimated chargebacks and rebates. Product sales are also subject to return rights, which have not
been significant to date.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Gross product sales were offset by product sales
allowances for the three and nine months ended March 31, 2021 as follows:</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Three Months Ended March 31, 2021</b></font></td>
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Nine Months Ended March 31, 2021</b></font></td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"> </td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td style="width: 78%"><font style="font: 8pt Times New Roman, Times, Serif">Gross product sales</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="width: 8%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,780,020</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="width: 8%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,533,070</font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom">
<td><font style="font: 8pt Times New Roman, Times, Serif">     Provision for product sales allowances and accruals</font></td>
<td> </td>
<td style="border-bottom: black 1pt solid"> </td>
<td style="border-bottom: black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(1,691,279</font></td>
<td><font style="font: 8pt Times New Roman, Times, Serif">)</font></td>
<td> </td>
<td style="border-bottom: black 1pt solid"> </td>
<td style="border-bottom: black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(3,896,860</font></td>
<td><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="vertical-align: bottom">
<td><font style="font: 8pt Times New Roman, Times, Serif">Net sales</font></td>
<td> </td>
<td style="border-bottom: black 1pt double"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">88,741</font></td>
<td> </td>
<td> </td>
<td style="border-bottom: black 1pt double"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(363,790</font></td>
<td><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">   </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">For licenses of intellectual property, the Company assesses at contract
inception whether the intellectual property is distinct from other performance obligations identified in the arrangement. If the
licensing of intellectual property is determined to be distinct, revenue is recognized for nonrefundable, upfront license fees
when the license is transferred to the customer and the customer can use and benefit from the license. If the licensing of intellectual
property is determined not to be distinct, then the license is bundled with other promises in the arrangement into one performance
obligation. The Company needs to determine if the bundled performance obligation is satisfied over time or at a point in time.
If the Company concludes that the nonrefundable, upfront license fees will be recognized over time, the Company will need to assess
the appropriate method of measuring proportional performance.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Regulatory milestone payments are excluded from the transaction price
due to the inability to estimate the probability of reversal. Revenue relating to achievement of these milestones is recognized
in the period in which the milestone is achieved.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Sales-based royalty and milestone payments resulting from customer
contracts solely or predominately for the license of intellectual property will only be recognized upon occurrence of the underlying
sale or achievement of the sales milestone in the future and such sales-based royalties and milestone payments will be recognized
in the same period earned.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company recognizes revenue for reimbursements of research and
development costs under collaboration agreements as the services are performed. The Company records these reimbursements as revenue
and not as a reduction of research and development expenses as the Company is the principal in the research and development activities
based upon its control of such activities, which is considered part of its ordinary activities.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Development milestone payments are generally due 30 business days
after the milestone is achieved. Sales milestone payments are generally due 45 business days after the calendar year in which the
sales milestone is achieved. Royalty payments are generally due on a quarterly basis 20 business days after being invoiced.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The costs of research and development activities are charged to expense
as incurred, including the cost of equipment for which there is no alternative future use.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Third parties perform a significant portion of the Company’s
development activities. The Company reviews the activities performed under all contracts each quarter and accrues expenses and
the amount of any reimbursement to be received from its collaborators based upon the estimated amount of work completed. Estimating
the value or stage of completion of certain services requires judgment based on available information. If the Company does not
identify services performed for it but not billed by the service-provider, or if it underestimates or overestimates the value of
services performed as of a given date, reported expenses will be understated or overstated.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company charges to expense the fair value of stock options and
other equity awards granted. Compensation costs for stock-based awards with time-based vesting are determined using the quoted
market price of the Company’s common stock on the date of grant or for stock options, the value determined utilizing the
Black-Scholes option pricing model, and are recognized on a straight-line basis, while awards containing a market condition are
valued using multifactor Monte Carlo simulations. Compensation costs for awards containing a performance condition are determined
using the quoted price of the Company’s common stock on the date of grant or for stock options, the value determined utilizing
the Black Scholes option pricing model and are recognized based on the probability of achievement of the performance condition
over the service period. Forfeitures are recognized as they occur.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company and its subsidiary file consolidated federal and separate-company
state income tax returns. Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities
are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of
assets and liabilities and their respective tax basis and operating loss and tax credit carryforwards. Deferred tax assets and
liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences
or operating loss and tax credit carryforwards are expected to be recovered or settled. The effect on deferred tax assets and liabilities
of a change in tax rates is recognized in the period that includes the enactment date. The Company has recorded and continues to
maintain a full valuation allowance against its deferred tax assets based on the history of losses incurred and lack of experience
projecting future product revenue and sales-based royalty and milestone payments.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Basic and diluted loss per common share (“EPS”) are calculated
in accordance with the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification
(“ASC”) Topic 260, <i>Earnings per Share</i>.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">For the three and nine months ended March 31, 2021 and 2020, no additional
common shares were added to the computation of diluted EPS because to do so would have been anti-dilutive. The potential number
of common shares excluded from diluted EPS during the three and nine months ended March 31, 2021 and 2020 was 37,336,040 and 33,166,477,
respectively.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">   </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Included in the weighted average common shares used in computing
basic and diluted net loss per common share are 6,776,750 and 6,079,250 vested restricted stock units that had not been issued
as of March 31, 2021 and 2020, respectively, due to a provision in the restricted stock unit agreements to delay delivery.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Transactions denominated in currencies other than the Company’s
functional currency (US Dollar) are recorded based on exchange rates at the time such transactions arise. Subsequent changes in
exchange rates result in transaction gains and losses, which are reflected in the consolidated statements of operations as unrealized
(based on the applicable period-end exchange rate) or realized upon settlement of the transactions.</p>
<table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Three Months Ended March 31, 2021</b></font></td>
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Nine Months Ended March 31, 2021</b></font></td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"> </td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td style="width: 78%"><font style="font: 8pt Times New Roman, Times, Serif">Gross product sales</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="width: 8%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,780,020</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="width: 8%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,533,070</font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom">
<td><font style="font: 8pt Times New Roman, Times, Serif">     Provision for product sales allowances and accruals</font></td>
<td> </td>
<td style="border-bottom: black 1pt solid"> </td>
<td style="border-bottom: black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(1,691,279</font></td>
<td><font style="font: 8pt Times New Roman, Times, Serif">)</font></td>
<td> </td>
<td style="border-bottom: black 1pt solid"> </td>
<td style="border-bottom: black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(3,896,860</font></td>
<td><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="vertical-align: bottom">
<td><font style="font: 8pt Times New Roman, Times, Serif">Net sales</font></td>
<td> </td>
<td style="border-bottom: black 1pt double"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">88,741</font></td>
<td> </td>
<td> </td>
<td style="border-bottom: black 1pt double"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(363,790</font></td>
<td><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>March
31,</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>June
30,</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2021</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2020</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; width: 76%"><font style="font: 8pt Times New Roman, Times, Serif">Clinical
/ regulatory costs</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">313,761</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">43,625</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Insurance
premiums</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">39,377</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">84,741</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Vyleesi
contractual advances</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,200,000</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Other</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,207,104</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">609,850</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,760,242</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">738,216</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">Carrying
Value</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">Quoted
prices in active markets</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">(Level
1)</font></p></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">Other
quoted/observable inputs (Level 2)</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">Significant
unobservable inputs (Level 3)</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">March
31, 2021:</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; width: 52%; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">Money
Market Account</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">68,452,269</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">68,452,269</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">June
30, 2020:</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">Money
Market Account</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">82,406,697</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">82,406,697</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>March
31,</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>June
30,</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2021</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2020</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; width: 76%"><font style="font: 8pt Times New Roman, Times, Serif">Clinical
/ regulatory costs</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">325,546</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,722,729</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Other
research related expenses</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">854,176</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">586,185</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Professional
services</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">60,047</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">217,662</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Inventory
purchases</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,300,000</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Selling
expenses</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,542,475</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Other</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">115,515</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">372,521</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">5,197,759</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,899,097</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b> Total</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Current</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>1-3
Years</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>4-5
Years</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; width: 52%"><font style="font: 8pt Times New Roman, Times, Serif"> Inventory
purchase commitments</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">11,072,000</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,628,000</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">6,484,000</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">960,000</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Nine
Months Ended March 31, 2021</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Nine
Months Ended March 31, 2020</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Cumulative
from inception</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Shares</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Proceeds</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Shares</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Proceeds</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Shares</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Proceeds</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; width: 37%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Gross
proceeds</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 7%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 7%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 2%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 7%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,895,934</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 7%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,723,194</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 2%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 7%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">9,460,509</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 7%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">12,330,242</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 2%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>Fees</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(51,696</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(369,908</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>Expenses</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(90,000</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(90,000</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>Net
proceeds</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"><b>-</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>$</b></font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"><b>-</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"><b>1,895,934</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>$</b></font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"><b>1,581,498</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"><b>9,460,509</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>$</b></font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"><b>11,870,334</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Nine
months ended March 31, 2020</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Warrants</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Buyback
price</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; width: 75%"><font style="font: 8pt Times New Roman, Times, Serif">Series
F Warrants</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">297,352</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">62,712</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 2%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Series
H Warrants</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,466,432</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">577,373</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Series
J Warrants</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,774,889</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,907,381</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">6,538,673</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,547,466</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Number
of Shares</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Weighted
Average Exercise Price</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Weighted
Average Remaining Term in Years</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Aggregate
Intrinsic Value</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; width: 52%"><font style="font: 8pt Times New Roman, Times, Serif">Outstanding
- June 30, 2020</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">19,902,450</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.76</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">7.4</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">380,514</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">Granted</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">409,500</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.69</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">Forfeited</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(487,126</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.75</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">Exercised</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">Expired</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(14,000</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1.70</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Outstanding
- March 31, 2021</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">19,810,824</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.76</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">6.7</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,631,093</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Exercisable
at March 31, 2021</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">11,517,324</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.78</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">5.2</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">873,610</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Expected
to vest at March 31, 2021</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">8,293,500</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.74</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">8.6</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">757,483</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>RSUs</b></font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; width: 88%"><font style="font: 8pt Times New Roman, Times, Serif">Outstanding
at July 1, 2020</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">12,965,570</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">Granted</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">Forfeited</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(411,068</font></td>
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">Vested</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(958,090</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Outstanding
at March 31, 2021</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">11,596,412</font></td>
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
3896860
1691279
3533070
1780020
37336040
33166477
37336040
33166477
11072000
3628000
6484000
960000
0
1895934
9460509
0
1723194
12330242
0
0
0
0
-51696
-369908
0
0
0
0
-90000
-90000
0
1895934
9460509
0
1581498
11870334
14000
0
487126
409500
8293500
11517324
0.74
0.78
1.70
0.00
0.75
0.69
757483
873610
P6Y8M12D
P5Y2M12D
P8Y7M6D
-958090
411068
0
1049938
1307193
321866
353246
1409224
1027604
453439
348880